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ENA sees downgrades – Petrobras completes US$3bn bond sale – Argentine issuers fight for fixed income investors – Link Reit to issue inaugural green bond

Jul 15, 2016 // 4:19PM

  • Fitch has downgraded ENA Sur, ENA Este and ENA Norte Trusts’ notes due decreasing traffic performance
  • Nigeria's Abia State is close to clinching a US$200mn loan from the African Development Bank (AfDB)
  • Bank of China Ltd., BNP Paribas SA, Deutsche Bank AG, Goldman Sachs Group Inc., Mitsubishi UFJ Financial Group Inc. and Morgan Stanley are said to be lead managing the Saudi Arabia sovereign bond issuance, according to a report from Bloomberg
  • Nigeria's plans to sell NGN120bn in 5, 10 and 20-year notes have been delayed due to a computer glitch
  • Petrobras completed the sale of US$3bn in bonds: US$1.75 in 2021 notes paying a coupon of 8.375%, and US$1.25bn in 2026 notes paying a coupon of 8.75% The notes were oversubscribed 2.4 and 2.3 times, respectively. BB Securities Ltd, J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Santander Investment Securities Inc arranged the sale
  • Petrobras Argentina priced a US$500m 7-year senior unsecured notes to yield 7.50% with a coupon of 7.375%
  • Banco de Galicia y Buenos Aires priced a US$250mn US-dollar-denominated Tier 2 Basel III-compliant bond, the country's first, at 8.25%
  • Compania Latinoamericana de Infraestructura & Servicios SA (CLISA) priced a US$200m 7-year bond at 9.75% with a coupon of 9.5%
  • Pemex looks likely to price a ¥80bn (US$771mn) in 10-year Samurai bonds today, according to a report from Reuters
  • Property investment firm Link Reit is to become the first Hong Kong-based issuer of a green bond as the company preps a US$500mn deal. Bank of America Merrill Lynch, Bank of China, HSBC and JP Morgan are arranging the deal
  • Housing Development Finance Corp (HDFC), India's largest home financing company, raised Rs3,000cr via the country's first Masala bonds. The notes yield 8.33% with a coupon of 7.875%. Axis Bank, Credit Suisse and Nomura were lead managers on the deal

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